What SECTION 1231 PROPERTY means: Section 1231 property includes depreciable assets and real estate used in a trade or business and held for more than one year. Under certain circumstances, it also includes timber, coal, domestic iron ore, livestock (held for draft, breeding, dairy, or sporting purposes), and unharvested crops.
- Definition Straddle:
- Dictionary set of offsetting positions on personal property. One example, is a put and call option on the same number of shares of a particular security, with the same exercise price and expiration date section 1231 property.
- Definition Social Security Wages:
- Dictionary Total wages paid to an employee that are subject to this tax. This amount does not include tips. Wages are also subject to Medicare tax section 1231 property.
- Definition Salvage Value:
- Dictionary The estimated value that will be realized upon the sale or other disposition of an asset at the end of its useful life section 1231 property.
- Definition Self-Employment Income:
- Dictionary Self-employment income is income earned by a self-employed employed individual. In most cases, the income is subject to self-employment (social security and medicare) tax section 1231 property.
How works Section 1231 Property meaning in Tah definition S .